So, we do have Santa rally ( I was skeptical about below 3800 but above was short term bullish especially after two consecutive close above that level you can check it ) and it's time to do final check based on monthly chart, so here we go: 1. Looks like we do have profit taking around 4350, surprise ? I'm not. Here we have strong resistance based on open on...
Based on the weekly chart we are testing very important supply zone and I would be careful here to chase the price. As long as we are below 600 I would look to buy lower twds 450/00 and / or to buy above 600 ( 2 weekly close in a row needed for me )
I would be very careful here ( based on similarity ) to call bottom yet. Based on that chart at least one more push down is possible unless we see clear break and close above 3800 ( 2 days in a row ). Im NOT a seller here as sentiment is very negative, Im looking to buy either deeper deep or after consolidation above 3800.
Based on this 4h chart Im buying some here right at suport 390/394 and I will be ready to add if we go lower towards yellow line, stop 2 daily close in a row below 350
One of the most scary chart Ive seen lately ( taking top 25 into consideration ) Bulls need to hold current levels around 23,50 and start consolidation otherwise we may even fall towards... 8 USD jeeeezzzz.... Above 35-40 USD there will be light in the tunnel
Dead Cat Bounce only while below 3700/800 with possibilities of new lower low. Bulls need to retake 3700/800
Let,s see if we can get 1 to 1 , not bad from risk point of you. Tiny exposure in case "falling knife" wants to fall further
We may see acceleration to the downside below 102/100 towards 80. PLEASE be prepared to reverse to long on any kind of the failure below 100, we may see squeeze twds 120.
Previous analysis available here and definetly you should check it out. Ive mentioned that this time TA is not going to work because fundamentals are more important, long in play based of "fake breakdown" looking to add to long above 0.0017 and 0.0018 Time is a key here...
Where everyone is talking about head and shoulders formation I see possible diamond formation ( with stop hunting ) and think higher prices still possible. Manipulation possible: think if you are looking for liquidity - "street" is selling cause of H&S formation so who is buying ?
Ok, my yesterday expectations were a bit bigger and I was affraid if we fail at 4400/4500 we may see huge and fast sell off towards most recent lows…. We saw rejection but we are still above 4000 ( at least for now ), so… if we can take out 4100 we may see 4400/4500 again and then…. who knows ?
It looks like we may see end of the month fireworks. Of course I count on bullish breakout which may open 4700 and 5200 but Im well aware that failure here around 4400/4500 could be painful.
It looks a bit better but still 4400/4500 as a key zone based on daily chart. Retest of the channel could be intraday long entry, especially when lower shadow appear. What we dont want to see is a move back into the channel as it may bring test of 3000. Green Lines - levels based on daily chart Blue lines - levels based on weekly chart
I like what I see here but... We need strong daily close today and we need to hold 395/400 on a daily basis ( daily close ) next few days. If bulls can do that 580 and 680 as first potential targets.
We are trying to hold above ydy low, there is a Chance bulls may try to build lower shadow on weekly ( as long as we are above ydy low ) Key here is weekly close above 5k, will update
Looks like bears are targeting at least some stops under 140. Close below may open the way twds psychological 100 USD.
This is daily chart from Bitfinex Chart is worh more than 1000 words, what I would like to see: stop hunt below 5000 with strong rejection… HOpe Dies Last ( HODL ;) )
Its in relations to our previous comment here where we advised nott to chase the price. Strong pullback reached suport around 510/500 and we see nice bounce. If you were looking for long that might better place than previous top of the range. First target 580/600.